US: Continued growth in the non-manufacturing sector at a faster rate - ISM

According to the latest Non-Manufacturing ISM Report on Business, economic activity in the non-manufacturing sector grew in August for the 92nd consecutive month.

Key takeaways:

• The NMI registered 55.3 percent, which is 1.4 percentage points higher than the July reading of 53.9 percent.
• This represents continued growth in the non-manufacturing sector at a faster rate.
• The New Orders Index registered 57.1 percent, 2 percentage points higher than the reading of 55.1 percent in July.
• The Employment Index increased 2.6 percentage points in August to 56.2 percent from the July reading of 53.6 percent.
• The Prices Index increased 2.2 percentage points from the July reading of 55.7 percent to 57.9 percent, indicating prices increased in August for the third consecutive month.